The pricing of financial assets has always been the focus of finance. The traditional asset pricing model is based on the analysis of the influence factors of the basic economic level, without considering the psychological factors of the investors. In recent years, more and more attention has been paid to behavioral finance, more and more researchers will pay attention to the investor's psychological investment. In view of this, this article from the investor psychology point of view, The influence of the deviation of cognitive, emotional and volitional process on asset pricing in the process of investment, and constructs the theoretical model of financial asset pricing based on psychological deviation.